LONDON (Alliance News) - Pottery manufacturer Portmeirion Group PLC on Thursday reported a solid annual performance with increased payout, double-digit profit growth, and record revenue.
Portmeirion shares were trading 4.1% higher at 1,080.00 pence each on Thursday morning.
For 2018, the company posted pretax profit of GBP9.7 million, up 10% on the previous year's GBP8.8 million profit.
Revenue rose for the tenth consecutive year to a "record" GBP89.6 million, an increase of 5.7% from GBP84.8 million a year prior, on the back of "strong progress" in the UK, US and South Korea.
The ceramic manufacturer proposed a total dividend for the year of 37.50 pence per share, up 8.2% on last year's 34.66p payout. This was after a final dividend of 29.50p, up from 27.26p was proposed.
"We are delighted to be reporting a tenth consecutive year of record revenue and another record profit before taxation. Our strategy and core values remain unchanged. We are focused on driving profitable sales growth through new product introduction, developing our markets, investing behind our brands and enhancing our operational capabilities and efficiency supported with complementary strategic acquisitions," Non-Executive Chair Dick Steele said.
"We look forward into 2019 with confidence and at this very early stage of the year expect trading to be in line with expectations for the full year."
Portmeirion (PMP)